M.P. Evans Group (LON:MPE) Stock Jumps 0.4% – Time to Buy?

M.P. Evans Group PLC (LON:MPE)’s stock price was up 0.4% during trading on Monday. The company traded as high as GBX 1,738 and last traded at GBX 1,722.73. Approximately 48,212 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 194,385 shares. The stock had previously closed at GBX 1,716.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price target on M.P. Evans Group from GBX 1,900 to GBX 2,500 and gave the stock a “buy” rating in a report on Monday, September 14th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 2,500.

M.P. Evans Group Trading Up 0.4%

The business’s fifty day moving average price is GBX 1,952.39 and its 200 day moving average price is GBX 1,667.41. The firm has a market capitalization of £893.56 million, a price-to-earnings ratio of 7.32 and a beta of 0.30.

About M.P. Evans Group

M.P. Evans Group PLC is a responsible producer of certified sustainable crude palm oil (“CPO”), with plantations in five Indonesian provinces: Aceh, Bangka Belitung, East Kalimantan, North Sumatra and South Sumatra.

Headquartered in the UK, the Group’s shares are traded on the London Stock Exchange’s Alternative Investment Market (“AIM”).

The Group was founded by Matthew Pennefather Evans in the 1870s and its long history in tropical agriculture includes experience in tea and rubber plantations.